All News
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May 16, 2012 : Baja Mining Files First Quarter Reports for 2012
Baja Mining Corp. today announced its financial results for the three months ended March 31, 2012 have been filed.
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May 14, 2012 : Baja Mining Announces Resignation of Greenslade, Appointment of New Chairman and Interim CEO and App
Baja Mining Corp. today announced the resignation of John Greenslade as a director of Baja. Mr. Greenslade has also resigned from his positions as Baja’s CEO and President.
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May 07, 2012 : Baja Mining Announces Board Appointments
Baja Mining Corp. today announced the appointments of Mr. Tom Ogryzlo, Mr. Wolf Seidler, Mr. Stephen Lehner and Mr. Lorie Waisberg to the Board of Directors. With their appointments, the Baja board now consists of seven directors, including Mr. Giles Baynham, Mr. François Marland and Mr. John Greenslade.
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May 07, 2012 : Baja Mining Announces Update on Progress of Funding Solution
Baja Mining Corp. today provided an update on the progress of its efforts to develop a funding solution for the recently announced capital cost overruns at its Boleo Project.
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April 25, 2012 : Baja Mining Provides Update on Cost Controls, Funding Search, Executive Change and Governance Adviso
Baja Mining Corp. today provided an update on its cost control initiatives, the development of a funding plan, an executive change and a new governance advisor.
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April 23, 2012 : Baja Mining Provides Update For Costs of the Boleo Project; Announces Director Resignations
Baja Mining Corp. today announced the preliminary results of its current capital cost review of the Company’s 70 percent owned Boleo copper-cobalt-zinc project and three resignations from the Board of Directors.
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April 17, 2012 : Baja Mining Announces Resignation of Gerald Prosalendis From Board
Baja Mining Corp. today announced that Gerald Prosalendis has resigned from the Board of Directors for personal and family reasons.
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April 03, 2012 : Baja Mining Shareholders Vote to Keep the Current Board
Baja Mining Corp. (TSX:BAJ - OTCQX: BAJFF) today announced that its shareholders have voted to keep the current Board unchanged. The vote took place at a Special Meeting of Shareholders in Vancouver. The Special Meeting of Shareholders was requisitioned by dissident Mount Kellett Master Fund II A L.P., whose two nominees were not elected to the Board.
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March 29, 2012 : Baja Mining Announces Further US$ 80 Million Draw of Senior Debt for Boleo
Baja Mining (TSX:BAJ-OTCQX:BAJFF) announces that its 70 percent-owned Mexican subsidiary, Minera y Metalurgica del Boleo S.A de C.V (MMB) drew down a further US$ 80 million on March 28, 2012, the fourth draw on the Company’s senior loans to date.
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March 28, 2012 : Baja Mining Provides Update on Boleo Project
Baja Mining Corp. (TSX:BAJ - OTCQX:BAJFF) provides a project update for its 70 percent-owned Boleo copper-cobalt-zinc project (“Boleo” or the “Project”), located near Santa Rosalia, Baja California Sur, Mexico.
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March 26, 2012 : Baja Mining Urges Shareholders: Vote the Gold Proxy
Baja Mining Corp. (TSX:BAJ - OTCQX: BAJFF) today announced that it has filed and is mailing a third and final letter to shareholders regarding the proxy contest initiated by dissident Mount Kellett Master Fund II A L.P. Baja has scheduled a vote to take place at a special meeting of shareholders on April 3, 2012 and urges shareholders to vote the GOLD proxy against Mount Kellett.
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March 23, 2012 : Baja Mining Reports Support From Glass Lewis, A Leading Independent Proxy Advisory Firm
Baja Mining Corp. today reported that Glass Lewis & Co., a leading independent proxy advisory firm, has recommended that Baja shareholders vote the GOLD proxy in support of Baja’s Board. Among other things, Glass Lewis has specifically recommended shareholders should not elect to the Board two dissident nominees put forward by Mount Kellett Master Fund II A LP. Baja has scheduled for the vote to take place at a special meeting of shareholders on April 3, 2012.
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March 22, 2012 : Baja Mining Comments on ISS Recommendation
Baja Mining Corp. today commented on a report issued by Institutional Shareholder Services* (ISS) regarding the proxy contest initiated by dissident shareholder Mount Kellett Master Fund II A LP. A Baja shareholders’ special meeting requisitioned by Mount Kellett is scheduled for April 3, 2012.
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March 06, 2012 : Baja Receives Response from BCSC Regarding Baja’s Complaint Against Mount Kellett’s Trade Disclosure
Baja Mining Corp. (TSX:BAJ - OTCQX: BAJFF) today announced that it has received a response from the British Columbia Securities Commission (the “BCSC”) following Baja’s complaint about Mount Kellett Master Fund II A LP and Mount Kellett Capital Management LP (together, “Mount Kellett”).
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March 05, 2012 : Baja Alerts Shareholders: Mt. Kellett Acknowledges Control Objective and 15 Day Standstill Expiry
Baja Mining Corp. (TSX:BAJ - OTCQX: BAJFF) today alerted shareholders that dissident Mount Kellett Master Fund II A L.P. has finally acknowledged it sought control of Baja. In addition, Mount Kellett has acknowledged that it demanded a rapid, 15-day expiry to its worthless standstill offer.
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March 01, 2012 : Baja Mining Advises Shareholders: Don’t Trust the Mount Kellett Wolf in Sheep’s Clothing
Baja Mining Corp. (TSX:BAJ - OTCQX: BAJFF) today announced that it has filed and is mailing a second letter to shareholders. In the letter, Baja responds to misleading statements by dissident shareholder Mount Kellett Master Fund II A L.P., and highlights Mount Kellett’s failure to address seven critical facts in its dissident circular. Baja cautions shareholders not to trust the Mount Kellett wolf in sheep’s clothing.
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February 27, 2012 : Baja Mining Provides Initial Response to Dissident Circular
Baja Mining Corp. (TSX:BAJ - OTCQX: BAJFF) today advised shareholders that it is reviewing a dissident circular issued late last week by Mount Kellett Capital Management LP and will provide a complete response in due course.
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February 23, 2012 : Baja Mining Files Complaint Regarding Mount Kellett’s Trade Disclosure
Baja announced that it has filed a complaint with the British Columbia Securities Commission regarding certain disclosure practices of Mount Kellett Master Fund II A LP and Mount Kellett Capital Management LP (together, “Mount Kellett”). The complaint involves Mount Kellett’s failure to file early warning and insider trading reports last year after it acquired more than 10% of Baja’s shares. Baja believes Mount Kellett chose a less transparent form of disclosure as part of a stealth strategy to acquire control of Baja without paying a premium to all shareholders.
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February 14, 2012 : Baja Mining Advises Shareholders: Mount Kellett’s 15-Day “Standstill” Offer was Predatory
• Mount Kellett Wanted Preferential Exemption from Shareholder Rights Plan • Baja Mining Corp. (TSX:BAJ - OTCQX: BAJFF) today advised shareholders that Mount Kellett Capital Management LP offered a predatory term for a “standstill” in the event that Mount Kellett’s employee Stephen Lehner joined Baja’s Board and then resigned.
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February 09, 2012 : Baja Files Management Information Circular And Exposes Mount Kellett’s Creeping Takeover Strategy
Baja today advised shareholders that it has filed and is mailing its Management Information Circular for a Special Meeting of holders of common shares of Baja that will take place on April 3, 2012. The Special Meeting was requisitioned by Mount Kellett Master Fund II A LP. The Circular exposes Mount Kellett’s attempt to execute a creeping takeover of Baja and details Mount Kellett’s attempts to put its interests ahead of the interests of other shareholders. Among other things, Mount Kellett privately sought exemptions from the Shareholder Rights Plan in 2011 so that Mount Kellett could acquire more than 30% of Baja’s common shares.
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January 18, 2012 : Baja Mining Announces Further Draw of US$ 100 Million of Senior Debt for Boleo
Vancouver, January 18, 2012 - Baja Mining (TSX: BAJ-OTCQX: BAJFF) today announced that its 70 per cent-owned Mexican subsidiary, Minera y Metalurgica del Boleo S.A de C.V. (MMB) drew a further US$ 100 million on January 17, 2012, the third draw on its senior debt facilities to date.
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January 12, 2012 : Baja Mining Amends Stock Option Plan and Extends Board Invitations to Mount Kellett and its Nominee
Vancouver, January 12, 2012 – Baja Mining Corp. (“Baja” or the “Company”) (TSX:BAJ - OTCQX:BAJFF) today announced that it will amend its Stock Option Plan as requested in the December 16, 2011 special meeting requisition it received from Mount Kellett Master Fund II A LP (“Mount Kellett”). Baja further announced that it has delivered an invitation to Mr. Lorie Waisberg to join the Board of Directors of Baja and that it has invited Mount Kellett to name an additional nominee independent of Mount Kellett to serve on the Board of Directors and represent the interests of all shareholders.
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January 09, 2012 : Baja Mining Calls Requisitioned Special Meeting for April 3, 2012
Baja Mining Corp. (“Baja” or the “Company”) (TSX:BAJ - OTCQX:BAJFF) announces that it has scheduled a special meeting of shareholders (the “Meeting”) in response to a requisition by dissident shareholder Mount Kellett Master Fund II A LP, as noted in Baja’s news release of December 19, 2011.
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January 03, 2012 : Baja Mining Provides Update on Governance and Boleo Project
Baja announced the appointment of former independent Lead Director Giles Baynham as independent Chair of Baja’s Board of Directors, the adoption of several new policies relating to corporate governance, and provided an update on the Company’s 70% owned, Boleo copper-cobalt-zinc project located in Baja California Sur, Mexico.
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December 19, 2011 : Baja Mining Receives Letter Requisitioning a Shareholder Meeting
Baja Mining announced that it has received a letter dated December 16, 2011 from Mount Kellett Master Fund II A LP of New York (“Mt. Kellett”), described as a registered shareholder of 19.9% of Baja’s shares.
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December 15, 2011 : Baja Mining Hires New Officers; Completes Second Draw on Senior Debt
Baja Mining Corp. ("Baja") (TSX:BAJ - OTCQX: BAJFF) today announced that it has added two new key members to its senior executive team. Mr. Adam Wright and Mr. Charles (Chuck) Hennessey have joined the Company as Chief Operating Officer (COO) of Baja and Vice President Operations of Baja’s Mexican operating company, Minera y Metalurgica del Boleo S.A de C.V (MMB), respectively.
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November 28, 2011 : Baja Mining Schedules Conference Call to Provide Boleo Project Update
Baja Mining Corp. announced that a conference call will be held on Wednesday, November 30, 2011 at 8:00am PST (11:00am EST) to provide an update on progress and milestones at its 70% owned Boleo copper-cobalt-zinc project (“Boleo”), located near Santa Rosalia, Baja California Sur, Mexico.
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October 19, 2011 : Baja Mining Announces First Draw of US$123.5 Million of Senior Debt for Boleo
Baja Mining today announced that its 70%-owned Mexican subsidiary, Minera y Metalurgica del Boleo S.A de C.V. (MMB), drew down the first advance of funds of US$123.5 million under its US$ 759 million senior debt facilities on October 18, 2011. Senior and subordinated debt facilities total US$ 823 million.
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September 06, 2011 : Baja Mining Commences Underground Mining at Boleo
Baja Mining Corp. announces that it has commenced underground mining of copper-cobalt-zinc ore at its Boleo mine located near Santa Rosalia, Baja California Sur, Mexico. This is the first stage of an 18 month program, ramping up to full underground production in March 2013, and provides a project update.
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August 04, 2011 : Baja Mining provides Project Update at Boleo
Baja Mining provides a project update for Boleo. The Company has started to receive underground mining equipment for September's scheduled initiation of underground mining, and site preparation for the tailings dam has begun. The Company has also spent all of its own equity, has fully drawn the funding loan and is scheduled to begin drawing its subordinate debt in August.
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June 15, 2011 : Secretary of Economy of México lays First Stone at Minera Boleo
Baja Mining Corp. is pleased to announce that Dr. Bruno Ferrari Garcia de Alba, Secretary of Economy of México as the personal representative of the President of Mexico, presided over the ceremony to lay the First Stone of Boleo’s mining construction at its 70% owned copper-cobalt-zinc project (“Boleo”), located near Santa Rosalía, Baja California Sur, México on June 15, 2011.
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May 09, 2011 : Baja Mining Announces Commencement of Mining Activity at Boleo
Baja Mining Corp. is pleased to announce the commencement of surface mining activities at its 70% owned Boleo copper-cobalt-zinc project (“Boleo”), located near Santa Rosalia, Baja California Sur, Mexico. Commencing May 2, 2011, the Company’s surface mining team completed an initial machine operator training program and commenced mining activities to develop the surface facilities and underground mining portals that are scheduled for operation later this year.
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April 22, 2011 : Baja Mining Adopts Shareholder Rights Plan
Baja Mining Corp. today announced that its Board of Directors has approved the adoption of a shareholder rights plan (the "Rights Plan"), which takes effect from today, Friday, April 22, 2011. The Rights Plan is similar to plans adopted by other Canadian companies, and has been adopted to ensure the fair treatment of shareholders in the event of any take-over bid for Baja’s common shares.
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April 11, 2011 : Baja Mining Announces First Concrete at Boleo and Provides Construction Timeline
Baja Mining Corp. is pleased to announce first concrete has been poured at its 70% owned Boleo copper-cobalt-zinc project (“Boleo”), located near Santa Rosalia, Baja California Sur, and provide an update on progress at Boleo since completion of project funding in November 2010.
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February 03, 2011 : Baja Appoints Wolf Seidler to Board
Baja Mining Corp. is pleased to announce the appointment of Mr. Wolf Seidler as an Additional Director to Baja’s Board of Directors effective January 28, 2011.
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January 18, 2011 : Baja Finalizes Fixed Interest Rate on US EXIM loans at 3.02% and Provides Boleo Project Update
Baja Mining Corp. is pleased to announce that its 70% owned project company, Minera y Metalurgica del Boleo S.A. de C.V. met all of the condition precedents necessary for the Export-Import Bank of the United States loan facility to become operative on January 14, 2011.
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December 20, 2010 : Baja Closes Copper Hedging For Boleo Project
Baja is pleased to announce that its 70% owned project company, Minera y Metalurgica del Boleo S.A. de C.V. (“MMB”) has completed a zero cost collar copper hedge program. This completed one of the main outstanding conditions precedent relating to MMB’s US$ 823 million debt financing.
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December 13, 2010 : Baja Announces S&P/TSX Global Mining Index and S&P/TSX Global Base Metals Index Addition
Baja is pleased to announce that, as a result of the Quarterly S&P/TSX index review, Standard & Poor's Canadian Index Operations added Baja to both the S&P/TSX Global Mining Index and the S&P/TSX Global Base Metals Index, effective Monday, December 20, 2010.
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December 02, 2010 : Baja Wins Exploration and Development Funding Award
Baja is pleased to announce that it received the "Exploration and Development Funding Award" at the annual Mines and Money Awards Dinner held in London, UK on December 1, 2010.
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November 23, 2010 : Baja Fully Funded For Boleo Construction – Project Update
Baja is pleased to announce that its Boleo Project is now fully funded for construction following Baja’s recently completed US$858 Million project financing and C$184 Million bought deal financing.
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November 23, 2010 : Baja Closes C$184 Million Bought Deal Financing
Baja is pleased to announce that it has completed a cross border bought deal equity financing (the "Offering") for gross proceeds of C$184,057,500, inclusive of the over-allotment option granted to the underwriters. Pursuant to the Offering, Baja issued 167,325,000 common shares at a price of $1.10 per common share (see news release dated November 1, 2010).
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November 01, 2010 : Baja Mining Announces C$160 Million Cross-Border Bought Deal Financing
Baja today entered into an agreement with a syndicate of underwriters co-led by Raymond James Ltd. and Canaccord Genuity Corp. under which the Underwriters have agreed to purchase 145,500,000 common shares from the Company on a bought deal basis at a price of C$1.10 per Common Share for aggregate gross proceeds of approximately C$160,050,000.
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September 29, 2010 : Baja Signs US$858 Million of Financing Facilities for the Development of Boleo Project
Baja is pleased to announce that its 70% owned project company, Minera y Metalurgica del Boleo S.A. de C.V., has finalized and signed US$858 million of financing facilities for the construction and development of the Boleo project located in Baja California Sur, Mexico. The financing facilities comprise US$823 million of project financing facilities and a US$35 million equity cost overrun support facility.
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September 08, 2010 : Baja Announces All Required Credit Approvals for US$823 Million of Debt Financing for Boleo
Baja is pleased to announce that its 70% owned project company, Minera y Metalurgica del Boleo S.A. de C.V., has now received confirmation from the ECAs and the Commercial Lenders and from the Korea Development Bank that all necessary credit approvals have been obtained in relation to the project financing facilities for the development of the Boleo project in Mexico. Total credit approved Facilities now amount to US$823 million, the entire amount of debt financing required to develop the Project.
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August 13, 2010 : Baja Closes $17.5 Million Bought Deal Offering
Baja announced today that it has completed its previously announced publicoffering of 21,875,000 common shares at a price of $0.80 per Share to raise gross proceeds of $17,500,000 pursuant to a supplement to Baja's base shelf prospectus dated April 19, 2010. The Offering was underwritten by a syndicate led by Cormark Securities Inc., and included CIBC World Markets Inc., Canaccord Genuity Corp. and Rodman and Renshaw LLC.
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July 30, 2010 : Baja Announces Bought Deal Financing
Baja today announced it has executed an agreement with a syndicate of underwriters led by Cormark Securities Inc, and including CIBC World Markets and Canaccord Genuity Corp., and Rodman and Renshaw LLC, participating with respect to sales in the United States on an exempt basis, under which the Underwriters have agreed to purchase, on a bought deal basis, 21,875,000 common shares of Baja at a price of $0.80 per Share for gross proceeds of $17,500,000.
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July 29, 2010 : Baja Announces Key Boleo Debt Financing Approvals
Baja today announced that its 70% owned project company, Minera y Metalurgica del Boleo S.A. de C.V., has received all necessary credit approvals from the Export-Import Bank of the United States and Korea Development Bank to provide US$573 million in senior and subordinated project financing for the construction of the Boleo Project in Mexico.
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June 07, 2010 : Baja Announces Letter of Intent with Louis Dreyfus and Reports on Boleo Debt Financing Progress
Baja today announced that it has entered into a binding Letter of Intent with Louis Dreyfus Commodities Metals Suisse SA, setting out three transactions which, when completed, are expected to satisfy important parts of the financing package for the Boleo Project.
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April 14, 2010 : Baja Announces Boleo Debt Financing Progress and Appointment of Technical Agent
Baja today announced that it is working with a number of export credit agencies, banks and other financial institutions, including Export Development Canada, Korea Development Bank and Export-Import Bank of the United States, to arrange a project debt financing package for the construction of the Boleo Project.
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March 08, 2010 : Baja Files Updated Technical Report and Amended Financial Statements
Baja today announced that, further to its news release dated January 15, 2010, it has filed an updated NI 43-101 compliant technical report on the Boleo Project.
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March 08, 2010 : Baja Files Base Shelf Prospectus
Baja today announced the filing of a preliminary short form base shelf prospectus and a corresponding shelf registration statement. These filings, when made final, will allow Baja to make offerings of any combination of common shares, debt securities, warrants to purchase common shares, share purchase contracts and subscription receipts up to Cdn$500 million at any time during the 25 month period that the Prospectus remains effective.
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January 15, 2010 : Baja Confirms Robust Economics at Boleo
Baja today announced that an updated capital cost estimate and economic model have confirmed that its 70%-owned Boleo deposit in Baja California Sur, Mexico, can be developed economically at an after-tax internal rate of return (IRR) of 25.6% based on 100% equity.
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October 28, 2009 : Baja Mining Provides Project Update
Baja Mining Corp. is pleased to provide shareholders with an update on the Company and its Boleo Project in Baja California Sur, Mexico.
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September 11, 2009 : Baja Commences Trading On OTCQX
Baja Mining Corp. today announced that its common shares commenced trading on the Pink OTC’s most prestigious tier, OTCQX International, under the symbol, “BAJFF” effective at market open, September 11, 2009. Baja’s shares continue to trade on the Toronto Stock Exchange in Canada under the symbol “BAJ”.
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June 16, 2009 : Baja Achieves Key Milestone In Development Of Manganese Metal Production At Boleo
Baja Mining Corp. today announces that a key milestone has been achieved towards manganese metal production at its Boleo project in Baja, Mexico.
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June 03, 2009 : Baja Appoints Michael Shaw as Chief Operating Officer
Baja Mining Corp. today announced the appointment of Michael F. Shaw to the position of Chief Operating Officer of the Company, effective immediately. Mr. Shaw joined the Company in August 2007 as Vice President Construction and Engineering (please see previous news release dated September 6, 2007).
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May 14, 2009 : Baja Mining Selects Ica Fluor as EPCM Contractor & Restarts Boleo Engineering
Baja Mining Corp. today announced that it has signed a letter of intent with ICA Fluor to perform the engineering, procurement and construction management (EPCM) for Baja Mining’s Boleo copper-cobalt-zinc-manganese mining project located near Santa Rosalia, Baja California Sur, Mexico.
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March 16, 2009 : Baja Mining Sees Potential Capital Cost Savings
Baja Mining Corp. is pleased to provide shareholders with an update on management’s preliminary revised capital cost estimates for the Boleo Project (the “Project”). As expected, the slowing of the original construction schedule at Boleo has enabled the Company to take advantage of a reduced cost environment. Given the recent rapid changes in world economic conditions, the Company has prepared an updated preliminary internal trending analysis of Project capital costs, showing a 12% decrease, which suggests a revised cost estimate of US$767 million (excluding working capital and financing costs). This represents a reduction of over US$100 million from the Company’s April 2008 capital cost estimate of US$872 million (see press release dated April 17, 2008). The ongoing re-costing of Boleo is being undertaken in Vancouver together with the assistance of Baja’s Korean partners, who continue to work closely with the Company.
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November 06, 2008 : Baja Mining to Host Conference Call for Investors
Baja Mining Corp. (the “Company” or “Baja”) today announced that it will host an investor conference call on Thursday, November 13, 2008 at 8:00 a.m. Pacific Standard Time (11:00 a.m. EST).
During the call John Greenslade, President and CEO of Baja, will provide a corporate update about the Company, the Boleo Project and recently announced Company news.
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October 29, 2008 : Baja Mining Delays Development of Boleo Project Pending Improved Market Environment
Baja Mining Corp. (the “Company” or “Baja”) advises that due to the current global financial crisis, it has elected to delay construction activities at the Boleo Project, Mexico.
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August 19, 2008 : Baja Mining to Take First Delivery Of Mining Equipment
Baja Mining Corp. (the “Company” or “Baja”) is pleased to announce that the first shipment of major mining equipment for use at its Boleo project is expected to arrive at site in Baja California Sur in August or early September 2008. The equipment will immediately be put into service in development of stockpile benches, access roads to the planned underground portals, and stripping of the open-cut mines and within the tailings impoundment facility. It will also be available for preparation of the process plant site and tailings facility. Subsequent deliveries of the remaining surface mining equipment will be occurring over the balance of 2008; and the first arrival of underground production mining equipment is expected in late December 2008 for startup in first quarter 2009. These initial deliveries are focused on primary mining equipment and include the continuous mining machines, roof bolters and other production machines.
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July 28, 2008 : Baja Mining Receives $90 Million & Ramps Up Construction Activities
Baja Mining Corp. (the “Company” or “Baja”) provides the following update on the development of the El Boleo Project, Mexico.
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July 04, 2008 : Baja Mining Releases Video Presentation on Financing Completion
Baja Mining Corp. (the “Company” or “Baja”) is pleased to provide an updated video news release on the announced financing transaction (refer to press release dated July 2, 2008).
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July 02, 2008 : Baja Mining Closes Sale Of 30% of Boleo Project To Korean Consortium For Us$294 Million Cash
Baja Mining Corp. (the “Company” or “Baja”) is pleased to announce that on the 30th of June it completed the transaction (the “Transaction”, as described in its press releases of April 17, 2008 and June 3, 2008) with a consortium of Korean companies (the “Consortium”) led by Korea Resources Corporation (“Kores”).
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June 25, 2008 : Baja Mining Provides Financing Update
Baja Mining Corp. (the “Company” or “Baja”) is pleased to announce that it has arranged a standby bridge financing with Endeavour Mining Capital Corp. (“Endeavour”) in the aggregate amount of US$10,000,000 (the “Facility”).
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June 03, 2008 : Baja Mining Closes Transaction with Korean Consortium In Escrow
Baja Mining Corp. (the “Company” or “Baja”) is pleased to announce that the transaction with the consortium of Korean companies led by Korea Resources Corporation (the “Korean Consortium”) described in its press release of April 17, 2008 (the “Transaction”) has closed in escrow.
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May 08, 2008 : Baja Mining Welcomes Tom Ogryzlo as Chairman of The Board
Baja Mining Corp. (the “Company”) is pleased to announce the appointment of Mr. C. Thomas Ogryzlo as Chairman of the Board of Directors of the Company effective immediately.
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April 22, 2008 : Baja Mining Launches New Multimedia Presentations
Baja Mining Corp. (the “Company” or “Baja”) is pleased to announce the launch of new multimedia presentations on the Boleo Project and the Company. These are now available for viewing on the Company’s website at www.bajamining.com.
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April 18, 2008 : Baja Mining Clarifies Financing Announcement
Baja Mining Corp. (the “Company” or “Baja”) clarifies an announcement made April 17, 2008. In regards to the press release dated April 17, 2008, the Company wishes to clarify the status of construction financing for the El Boleo Project. As announced, the estimated cost of construction (commencing from completion of the Definitive Feasibility Study in May 2007) is currently US$991 million. The Company has previously completed (in 2006 & 2007) equity financings from which approximately US$52 million was available to contribute to the cost of construction. Based upon the previously announced first mortgage commitment of US$475 million, the announced funding from the Korean Consortium of US$435 million and the US$52 million previously raised, Baja has raised or received commitments for US$962 million of an estimated US$991 million required. Assuming closing of all transactions, Baja will require a further US$29 million to fully fund estimated construction costs. The remaining US$29 million is expected to be raised as either subordinate debt related off-take contracts, equity or a combination thereof.
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April 17, 2008 : Baja Mining Welcomes Kores as Development Partner at El Boleo Project
Baja Mining Corp. (the “Company” or “Baja”) is pleased to announce a new development partner and financing arrangements for the construction of its El Boleo Project (the “Project”).
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April 07, 2008 : Baja Mining Provides Clarification
In regards to recent comments published by news media agencies, Baja Mining Corp. (the “Company”) clarifies that it is in confidential discussions with a number of industry partners in regard to the funding of the El Boleo Project, Santa Rosalia, Baja California Sur, Mexico. Other than the transactions that have already been announced by the Company to date, no further financial agreements have been entered into at this time.
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March 24, 2008 : Baja Mining Files Annual Statements; Provides Project Update
Baja Mining Corp. (the “Company”) announces that it has filed its Annual Audited Consolidated Financial Statements for the year ended December 31, 2007 and the related Management Discussion and Analysis. The Company has also filed its 2007 Annual Information Form.
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January 14, 2008 : Baja Mining Orders Long Lead Items
Baja Mining Corp. (the “Company”) is pleased to announce that it has placed orders for the Construction Camp and several critical path items, with long delivery times, in order to keep the overall schedule on track for start-up of the Boleo copper-cobalt project at Santa Rosalia, Mexico.
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December 12, 2007 : Baja Mining Appoints New Chief Financial Officer
Baja Mining Corp. (the “Company”) is pleased to announce the promotion of Mr. Rowland Wallenius to Chief Financial Officer (“CFO”) of the Company, effective immediately.
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November 13, 2007 : Baja Mining Secures Us$64 Million Equipment Lease Agreement with Caterpillar Financial
Baja Mining Corp. (the “Company”) is pleased to announce that its wholly owned Mexican subsidiary, Minera y Metalurgica del Boleo S.A. de C.V., has entered into an agreement with Caterpillar Financial SARL (“Cat Financial (Zurich)”), of Zurich, Switzerland, to act as Arranger and Provider in relation to an Equipment Lease Facility (the “Facility”) in an aggregate principal amount of up to US$64 million.
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October 16, 2007 : Baja Mining Announces Closing of Brokered Tranche of $45million Private Placement
Baja Mining Corp. (the "Company"), further to its press release of September 13, 2007, is pleased to announce that it has closed the brokered second tranche of its previously announced $45 million private placement (the "Offering") with Versant Partners Inc. The brokered portion of the Offering was fully subscribed, and raised gross proceeds totaling $15,000,900.
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October 11, 2007 : Baja Mining Notifies 2005 Warrant Holders of Near Term Expiry Date
Baja Mining Corp. (the “Company”) wishes to remind shareholders that participated in a private placement that closed in tranches between November 2, 2005 and December 21, 2005 that $0.45 warrants associated with such a placement are expiring on their respective dates in November and December of this year. Should warrant holders wish to exercise, please forward appropriate documentation to the Company before the expiry dates noted on the warrant or contact the Company for further instructions.
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September 24, 2007 : Baja Mining Closes First Tranche of Cdn $45+ Million Private Placement, And Seeks Shareholder
Baja Mining Corp. (the "Company") is pleased to announce that it has closed the initial non-brokered tranche of its private placement announced on September 13, 2007 (the "Offering"), raising proceeds of approximately CDN $30 million. The Company is seeking consent in writing from the holders of over 50% of its outstanding common shares for the brokered component of the Offering, which will raise additional gross proceeds of approximately CDN $15 million.
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September 13, 2007 : Baja Mining Announces Private Placement Of Cdn$45+ Million
Baja Mining Corp. (the “Company”) is pleased to announce that it has reached agreements for the private placement (the “Offering”) of 24,215,000 Units at a price of $1.86 per Unit for gross proceeds of $45,039,900.
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September 12, 2007 : Baja Mining Secures Underwritten Commitment For El Boleo Us$515 Million Debt Financing
Baja Mining Corp. (the “Company”) is pleased to announce that it has entered into an underwritten commitment with Bayerische Hypo-und Vereinsbank AG, a member of the UniCredit Group (“UniCredit”) as Mandated Lead Arranger to arrange and underwrite a limited-recourse term loan facility in an aggregate principal amount of up to US$475 million (the “Term Loan Facility”), as well as a cost overrun loan facility in an aggregate principal amount of US$40 million (the “Cost Overrun Facility” and together with the Term Loan Facility, the “Facilities”) to Minera y Metalurgica del Boleo S.A. de C.V. (“MMB”), Mexico. UniCredit will be the sole arranger and underwriter of the Facilities.
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September 06, 2007 : Baja Welcomes New Vice President – Engineering and Construction
Baja Mining Corp. (the "Company") is pleased to welcome Mr. Michael F. Shaw, P.E., as Vice President - Engineering and Construction, to the Company’s comprehensive Boleo Project team.
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September 04, 2007 : Baja Signs Bridge Loan Agreement with Endeavour Mining Capital
Baja Mining Corp. (the "Company") is pleased to announce it has entered into a bridge loan facility (the "Facility") with Endeavour Mining Capital Corp.("Endeavour") for an aggregate principal amount of up to US$10 million to finance the purchase of long-lead order equipment required for the development of the Boleo Project, Baja California Sur, Mexico.
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August 21, 2007 : Baja Mining Granted Essential Land Use Permits
Baja Mining Corp. (the “Company”) is pleased to announce that it has been advised by the Mexican Secretariat for the Environment and Natural Resources (SEMARNAT) that it has authorized the change in land use for the property on which the Boleo Project will be developed as per the requirements of the Mexican Law for Sustainable Forestry Development. This authorization involves payment of approximately US$550,000 in compensatory duties to the National Commission for Forestry (CONAFOR) to be applied in rehabilitation projects in the State of Baja California Sur.
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July 13, 2007 : Baja Mining Files Feasibility Study Summary
John Greenslade, President of Baja Mining Corp. (“Baja” or the “Company”) is pleased to advise, further to a news release dated May 29, 2007, the NI 43-101 compliant, Feasibility Study Summary Report (“DFS Summary”) for the El Boleo Project has now been filed on SEDAR at www.sedar.com, on EDGAR at http://sec.gov/edgar.shtml and on the Company’s website at www.bajamining.com.
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June 21, 2007 : Baja Mining Corp. Advances Engineering and Financing
Baja Mining Corp. (the “Company”) (TSX: BAJ) is pleased to announce that it has signed contracts for the Basic Engineering package for its Boleo copper, cobalt project in Baja California Sur, Mexico. The Definitive Feasibility Study, headed by Bateman Engineering (“Bateman”), has recently been completed and the engineering team that had been assembled for that work will now continue to develop the Baseline and Basic Engineering package that is necessary before starting Detailed Engineering and Construction. Contracts have now been signed with Wardrop Engineering (“Wardrop”) of Vancouver B.C., Bateman Engineering (“Bateman”) of Brisbane, Australia, and TIC – The Industrial Company (“TIC”), of Steamboat Springs, Colorado. The next phase of work will include Basic Engineering for the process and plant design, early (long lead item) procurement, and the development of master schedules and the final Engineering, Procurement and Construction Management (“EPCM”) contracts.
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May 29, 2007 : Baja Mining Completes Definitive Feasibility Study: Robust Economics Confirmed
Baja Mining Corp. (the “Company”) is pleased to announce the completion of the Definitive Feasibility Study (“DFS”) for the Boleo project located at Santa Rosalia, Baja California Sur, Mexico. The DFS is based on long-term prices of $1.50/lb copper, $15/lb cobalt and $1,200/t zinc sulphate, unless otherwise stated. All dollar amounts are in United States dollars.
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April 17, 2007 : Baja Mining Exercises Option to Purchase Power Generators
Vancouver, British Columbia - Baja Mining Corp. (the "Company") is pleased to announce that it has exercised its exclusive option to purchase a 10MW power generation facility from a US utility. (For complete details of the option, please see the Company’s news release dated July 20, 2006).
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April 04, 2007 : Baja Mining Releases Results For The Year Ended December 31, 2006
Vancouver, British Columbia - Baja Mining Corp. (the “Company”) is pleased to announce the annual results for the year ended December 31, 2006. All amounts are in Canadian dollars unless otherwise stated.
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April 04, 2007 : Baja Mining Definitive Feasibility Study Resources
Baja Mining Corp. (the “Company”) is pleased to announce updated resource estimates incorporating the final 20,000 meters of the 2006-2007 in-fill core drilling program for the Boleo Cu-Co-Zn-Mn project located at Santa Rosalia, Baja California Sur, Mexico.
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February 07, 2007 : Baja Mining Releases Updated Preliminary Economic Assessment of Boleo Project
Baja Mining Corp. (the “Company”) is pleased to release the results of the Updated Preliminary Economic Assessment (“Updated PEA”) for the Boleo project located at Santa Rosalia, Baja California Sur, Mexico. The update incorporates the results of 20,000 metres of an in-fill drilling program that was completed in early October 2006 as well as the capital cost estimate that has been prepared by Bateman Engineering (“Bateman”) and Wardrop Engineering (“Wardrop”) for the process plant.
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February 05, 2007 : Baja Mining to Graduate to Toronto Stock Exchange
Baja Mining Corp. (the "Company") is pleased to advise that its application to graduate to the Toronto Stock Exchange ("TSX") has been approved. The Company’s shares will cease trading on the TSX Venture Exchange as of close of business on February 6, 2007, and will commence trading on the TSX at open of market on Wednesday, February 7, 2007. The ticker symbol will remain BAJ.
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February 01, 2007 : Update: Preliminary Economic Assessment
Baja Mining Corp. (the "Company") advises that the Company received the updated geological model from Hellman & Schofield in mid-January as expected and has been working with its mining consultants to incorporate these results into a revised mine plan for inclusion into a National Instrument 43-101 compliant Preliminary Economic Assessment. Economic modelling of the data is currently being finalized for presentation to the Company’s board of directors.
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January 24, 2007 : Baja Mining Establishes Trust Fund for Conservation At Boleo Property
Baja Mining Corp. (the "Company") is pleased to advise that it has reached agreement with the Commission of Natural Protected Areas (CONANP), Bank Monex, and Ecobanca, a Mexican non-profit organization, to establish a trust fund to support environmental conservation measures within the El Vizcaino Biosphere. The Company’s El Boleo property is located within the "Buffer Zone" of such Biosphere. The compensation fund will commence with a payment of US$100,000 on January 31, 2007 and the issuance of three Special Warrants for an aggregate of 180,000 Common Shares of the Company. One Special Warrant will mature in each of February, 2009, 2010 and 2011. Each Special Warrant may be converted, in whole or in part, at any time prior to maturity into 60,000 Common Shares of the Company. In addition, the trustee of the Special Warrants can require the Company to repurchase any or all of the Special Warrants represented by a certificate at a price of USD$5.555 per underlying Common Share at any time within 30 days of the Maturity Date of each such Special Warrant. The Special Warrants contain provision for cancellation prior to a maturity date if development of the El Boleo project does not proceed. If cancellation occurs after any of the maturity dates, any matured or exercised certificates are considered a final contribution to the trust fund.
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January 15, 2007 : Form 20f Registration Statement Cleared
Baja Mining Corp. (the “Company”) has been advised by the United States Securities and Exchange Commission (“SEC”) that it has cleared all comments related to the Registration Statement filed by the Company on Form 20-F. The Registration Statement may be reviewed in its entirety under the Company’s profile under the US Securities and Exchange Commission website at www.sec.gov/edgar.shtml.
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January 08, 2007 : El Boleo Definitive Feasibility Schedule and Construction Financing Plans
Baja Mining Corp. (the "Company") advises that with the approval of its Environmental Impact Manifest on December 8, 2006 by Mexican Environmental authorities and completion of the in-fill drill program for resource definition for the Definitive Feasibility Study ("DFS") it is now in a position to fast-track project development to achieve production in early 2009.
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December 14, 2006 : Phase 2 Test Mine Demonstrates Potential for High Production Underground Mine
Baja Mining Corp. (the "Company") is pleased to provide final results from the second mine trial recently completed at its El Boleo copper/cobalt/ zinc/manganese deposit, Baja California Sur, Mexico.
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December 08, 2006 : Environmental Approval Received For Mine Development
Baja Mining Corp. (the “Company”) is pleased to advise that the Mexican Federal Environmental Agency (Secretaria de Medio Ambiente y Recursos Naturales – “SEMARNAT”) has approved the Environmental Impact Manifest (“Manifestación de Impacto Ambiental - “MIA”) for the Company’s El Boleo copper-cobalt-zinc-manganese Project.
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November 29, 2006 : Baja Files Restated Financial Statements And Amended Management And Discussion And Analysis
During an internal review of the financial statements and the procedures involved in the preparation of the quarter ending September 30, 2006, Baja Mining Corp. (the “Company”) discovered an error in the accrual of exploration expenses for the second quarter ended June 30, 2006. In the previously released financial statements the Company had incorrectly accrued $2,245,505 in exploration expenses. There were also incorrect allocations between expense categories. In addition, 986,993 warrants that were granted to agents with respect to private placements had not been recorded as share issue expense. Warrants granted as agent fees require a fair value calculation (Black-Scholes) that is recorded as share capital and convertible securities issuance costs. Further, upon review of the option pricing model (Black-Scholes) used for valuing stock options and warrants issued during 2006, the Company concluded that the time period used to calculate the volatility assumption and the expected life required adjustment.
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November 29, 2006 : 2006 Third Quarter Report
Baja Mining Corp. (the “Company”) is pleased to provide its third quarter results for September 30th, 2006. The following is a brief summary of the September 30, 2006 quarterly Financial Statements and Management Discussion and Analysis. Complete details may be found on the Company’s website at www.bajamining.com, as well as on SEDAR at www.sedar.com. All amounts are in CDN dollars unless otherwise noted.
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October 02, 2006 : Baja Mining Completes Definitive Feasibility Study Drill Program; Clarifies Escrow Release
Baja Mining Corp. (the "Company") is pleased to announce that the Company has completed the first 20,000 meters of the current +38,000 meter in-fill drill program at its El Boleo copper-cobalt-manganese-zinc project located near Santa Rosalia, Baja California Sur, Mexico. This will meet the requirements for completion of the Definitive Feasibility Study ("DFS") scheduled for completion in the fourth quarter of 2006. The samples from this drill program are being assayed on an expedited basis.
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